EU Launches €500 Million Boost for Advanced Materials Sector

In a strategic push to lead the global advanced materials industry, the European Commission has introduced a €500 million public-private partnership.

Date: 14. 03. 2024

The ambitious initiative, introduced by the European Commission, aims to enhance research and development in critical new materials essential for the EU's green and digital transitions. With €250 million allocated from the EU budget to match private investments from 2025 to 2027, the partnership seeks to empower companies to scale up and fast-track the introduction of innovative materials.

Margrethe Vestager, the Executive Vice President of the European Commission, highlighted the initiative's significance, stating it is crucial for maintaining the EU's technological leadership and economic strength. The focus areas include pioneering engineered materials like metallic nanoparticles for improved solar panels and sustainable sodium-ion batteries for energy storage, underlining their importance across various sectors such as clean energy, semiconductors, and pharmaceuticals.

Recognizing existing challenges like a fragmented innovation ecosystem and the need for increased private investment, the EU plans a coordinated strategy. This includes forming a technology council on advanced materials to set research priorities and a ‘materials commons’ digital platform to support the development and testing of new materials with AI tools.

Crucially, the initiative emphasizes substantial funding opportunities for the industry, aiming to boost innovation and manufacturing capabilities in the advanced materials domain. Through the public-private partnership and potential state aid for key projects, alongside funding from the European Innovation Council and Innovation Fund, the EU is poised to significantly enhance access to finance for companies in this sector.

As the advanced materials sector prepares for this transformative phase, Tiko Pro stands ready to guide and support businesses in navigating the funding landscape. For expert assistance in accessing EU funds and leveraging this unprecedented investment opportunity, contact us here.


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